XRP
XRP Ledger transaction volume collapses 44% in five days
On-chain activity on the XRP Ledger has plummeted, with transaction counts falling from 2.81 million to 1.57 million in less than a week, signaling a sharp slowdown in network usage.
Transaction data from CryptoQuant shows the XRP Ledger processed 2.81 million transactions on August 5 before declining to 1.57 million by August 9—a 44% drop. The activity had surged from 1.33 million on August 3 to its weekly peak on August 5, then reversed sharply, falling to 1.37 million on August 8 before edging back to 1.57 million on August 9.
The decline mirrors a broader slowdown in network demand following a brief spike in usage. Transaction count serves as a barometer of blockchain activity and user engagement, with previous slowdowns in XRP Ledger throughput coinciding with lower fee burns and softer trading volumes. During the same period, XRP's price retreated from around $1.06 to $1.02.
XRP remains dependent on broader crypto market sentiment to hold above the $1 support level. Cryptocurrency analyst Ali Martinez highlighted on August 10 that the $1.06 resistance level deserves close attention, citing Glassnode data showing nearly 3 billion XRP last transacted near that price point. A decisive monthly close above $1.06 could strengthen bullish momentum and potentially clear the way toward $1.35 and $1.64. At press time, XRP was trading at $1.04, up 0.4% in the last 24 hours but down more than 2% over the week, while trading below both its 50-day and 200-day simple moving averages.
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